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Tech is a sector not like another – it’s an business the place people can flip into billionaires in a single day, concepts supersede fundamentals, and leaders are rewarded for showmanship. In at present’s Silicon Valley, innovation is topped and never earned. Enterprise capitalists and founders are symbiotic. Unprofitable corporations are stored alive with injections of capital, gamed valuations, and manufactured hype with the objective of surviving lengthy sufficient to IPO.
Beginning within the early 2010s, Silicon Valley had championed large information as a revolutionary know-how that would unearth deep insights, hidden patterns, and innovation from large quantities of information. But the market began to query within the early 2020s if any of those guarantees had even been actual as almost all shopper and SaaS startups have been nonetheless bleeding almost a decade later.
Out of nowhere, ChatGPT was launched and AI turned Silicon Valley’s subsequent large factor. Each tech firm is now an “AI firm”, each Fortune 500 wants an “AI technique”, VCs are solely investing in AI startups, and each product is an “AI” product. This can be a deep dive into how synthetic intelligence is simply the most recent story spun by Silicon Valley to comb prior failed traits below the rug, hold valuations excessive, and outlook constructive.
Earlier than AI, there was crypto, web3, blockchain, digital actuality, large information, IoT, and wearables – all supposedly revolutionary applied sciences which have by no means lived as much as the hype. On this episode, we’ll dive into the market dynamics that push corporations and people to leap headfirst into tech traits, how this all began with large information, and why AI is finally simply one other pump-and-dump.
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0:00 Trendy Silicon Valley
6:42 Sponsor Break (Kajabi)
8:29 Submit Dot-Com Beginnings
17:22 Knowledge-Pushed FOMO
28:19 Shovel Economics
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